Canada-Newfoundland and Labrador Offshore Petroleum Cost Recovery Regulations
Enabling Act(s)
Rationale
A partial review is planned for the Canada-Newfoundland and Labrador Offshore Petroleum Cost Recovery Regulations to align it with the carbon pricing amendments made to the Canada-Newfoundland and Labrador Atlantic Accord Implementation Act.
Narrative
In December 2018, legislative amendments that allow for the incorporation by reference of Newfoundland and Labrador’s provincial carbon pricing regime into the Canada-Newfoundland and Labrador Atlantic Accord Implementation Act and its application to the Canada-Newfoundland and Labrador offshore area received Royal Assent. These amendments came into force in May 2019.
To ensure consistency between recent legislative amendments and the existing Canada-Newfoundland and Labrador Offshore Petroleum Cost Recovery Regulations, regulatory amendments will be required to allow the Canada-Newfoundland and Labrador Offshore Petroleum Board to recover the costs of administering the provincial carbon-pricing regime via the regulations.
Date of last review or amendment
The Canada-Newfoundland and Labrador Offshore Petroleum Cost Recovery Regulations came into force in February 2016, and have not been reviewed since then.
Targeted start for review
2024-2026
For further information
Departmental or agency contact:
Franco Bello
Policy Analyst
Offshore Management Division
Analysis and Operations Branch
Franco.Bello@nrcan-rncan.gc.ca
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